“Profile hijacking points to pervasive cybercrime with global links.” (Edward Kieswetter, SARS Commissioner) The Tax Ombud has again warned South Africans about the concerning increase in eFiling profile hijackings, which has spurred the Office of the Tax Ombud (OTO) to launch a survey of taxpayers’ experiences and a systemic investigation into SARS. What is eFiling […]

“Paying yourself isn’t selfish, it’s sustainable. The goal is to strike a balance that supports your personal life without compromising the growth of your company.”  (Salim Omar, CPA and serial entrepreneur) Many founders see skipping their own salary as a noble way to fund growth. In reality, underpaying yourself often backfires. Research shows that 82% […]

“Taking bold action on climate change simply makes good business sense. It’s also the right thing to do for people and the planet.” (Richard Branson) Climate change impacts the fundamentals of business operations. Rising heat affects productivity, floods and storms damage infrastructure, droughts disrupt supply chains, and new regulations increase compliance costs. Many leaders still […]

“Accounting is the language of business.” (Warren Buffett) Increasingly, banks and other organisations are requiring businesses to submit up-to-date management accounts when applying for finance. This is because these compact financial reports enable business analysis even when the latest annual financial statements are not yet available. Management accounts also offer owners and managers timely, accurate […]

Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact us for specific and detailed advice. © AccountingDotNews

“Life is short, there is no time to leave important words unsaid.” (Paulo Coelho, Author) Having “the last word” is defined as having “the final decision-making power or authority in a matter.” South Africans have the right to have the last word about how their assets are disposed after their passing – but exercising this […]

“Finance is effectively the rhythm section of a company. It creates the company cadence that every company needs.” (John Baule, CPA and ecommerce expert) You can’t grow a business without a clear handle on your numbers. But too many business owners still confuse bookkeeping and accounting. These roles do have some overlap, but they serve […]

“He said that there was death and taxes, and taxes were worse, because at least death didn’t happen to you every year.” (Terry Pratchett) In SARS jargon, a ‘systemic issue’ is the underlying cause of a complaint that affects many taxpayers. These systemic issues may have to do with the way SARS systems function, how […]

“Financial planning causes a struggle between the rational brain and the emotional brain.” (Michael C. Finke, author of Money Management Skills)  You didn’t start your business to become a psychologist. But understanding the way emotions creep into your decisions could be the difference between plain sailing and struggling to stay afloat. Entrepreneurs are often painted […]

05 September – PAYE submissions and payments 25 September – VAT manual submissions and payments 29 September – Excise duty payments 30 September – VAT electronic submissions and payments, CIT Provisional Tax payments and PIT top-up Provisional Tax payment where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. […]

“People with limited understanding of business think that it’s all about making profits. But those who actually run businesses know that it’s all about managing cash flows.” (Cedric Chin, entrepreneur and management training consultant) Most business owners aren’t careless with money. They obsess over profit margins and expenses, and carefully analyse their bank balances. Over […]

“Transactions or speculation in crypto assets are subject to the general principles of South African tax law and taxed accordingly.” (SARS) A staggering 5.8 million South Africans hold a crypto asset, with Southern Africa boasting the largest uptake of Bitcoin in the world.  SARS has not failed to notice the phenomenal growth of various digital […]

“Networking is not about just connecting people. It’s about connecting people with people, people with ideas, and people with opportunities.” (Michele Jennae, business coach and author) Most entrepreneurs know they should be building a network, but not many know this should be a core business strategy. Building and maintaining the right relationships can lead to […]

“A director must… act in good faith and for a proper purpose; in the best interests of the company; and with the degree of care, skill and diligence that may reasonably be expected…” (Companies Act of 2008) The first Guideline for 2025 issued by the CIPC (Companies and Intellectual Property Commission) aimed to “sensitise directors […]

Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact us for specific and detailed advice. © AccountingDotNews

“My sincere gratitude goes to the compliant taxpayers and traders who have continuously played their part in building our country. Ndza khenza.” (SARS Commissioner, Edward Kieswetter) Tax Filing Season 2025 officially opens on 7 July this year. This covers the 2024/2025 year of assessment: the period between 1 March 2024 and 28 February 2025. During […]

“Too many businesses only realise the value of intellectual capital when a key person leaves – or a competitor copies what they’ve built.” (Alicia Mendes, author of Futureproofing Through People) In the rush to raise capital, improve profitability or streamline efficiency, business owners often miss what truly drives their success: the knowledge, relationships, and systems […]

“We accept the responsibility to achieve the 2025/26 revenue estimate presented by the Finance Minister Mr Enoch Godongwana.” (SARS Commissioner Edward Kieswetter) Removing the contentious proposed VAT increases from Budget 3.0 led to a shortfall in revenue that necessitated new revenue sources.  One of these is the inflation-linked fuel levy increases of 16c for petrol […]

“Defining your target market is about understanding motivations, challenges, and goals. Without this, your messaging falls flat and your marketing budget burns fast.” (Elena Kwan, Founder of MarketLens Consulting) Fundamentally, businesses start because business owners believe they see a gap and aim to fill it. Their target market is built into the essence of the […]

Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact us for specific and detailed advice. © AccountingDotNews

“The difference between tax avoidance and tax evasion is the thickness of a prison wall.” (Denis Healey, former UK Chancellor of the Exchequer) The line between tax avoidance and tax evasion can sometimes appear blurry, especially in complex transactions or fierce tax planning strategies. The comparison below is a good starting point: What is tax avoidance? […]

“When people are financially invested, they want a return. When people are emotionally invested, they want to contribute.” (Simon Sinek) Employee engagement. It determines so much about the direction of a company, its staff productivity and how likely it is to succeed. According to a Gallup poll just 23% of South African employees are actively […]

“Trust the young people; trust this generation’s innovation. They’re making things, changing innovation every day.” (Jack Ma, Co-Founder Alibaba Group) South African businesses are always looking for ways to foster growth and innovation while still reducing costs.    One way to achieve both is to employ young people. Young workers bring unique advantages that can […]

“Mixing personal and business finances might seem harmless, but it’s a costly mistake that can lead to tax headaches, legal risks, and financial chaos.” (Amanda Painter) Mixing personal and business finances is so easy, particularly at the beginning. The company needs something, but money hasn’t come in, so you extend a small loan. You pay […]

Last month’s Budget 3.0 withdrew the contentious proposed VAT changes. This resulted in inflation-linked fuel levy increases of 16c for petrol and 15c for diesel, from 4 June. Other tax proposals from March’s Budget – including static personal tax thresholds, reduced transfer duties, and sin tax increases – remain unchanged. The tax measures contained in […]

Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact us for specific and detailed advice. © AccountingDotNews

“In 2025/26, SARS will focus on addressing the tax gap to improve revenue collection.” (National Treasury Budget Review) With additional funding from National Treasury, SARS will now be better positioned than ever to collect the estimated R800 billion in unpaid taxes which SARS Commissioner Edward Kieswetter has identified as a better alternative than a VAT […]

“Too often we hold fast to the clichés of our forebears. We subject all facts to a prefabricated set of interpretations. We enjoy the comfort of opinion without the discomfort of thought.” (John F. Kennedy, former US president) Humans are creatures of habit. We form opinions and sets of actions that we use as shorthand […]

“Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.” (Richard Branson) Whether you call it May Day, Labour Day or International Workers’ Day, 1 May is an opportune time for businesses to consider and prioritise their workers.  Here’s why happy workers are […]

“The more tranquil a man becomes, the greater is his success, his influence, his power for good.” (James Allen)  The world of work has never felt less stable. Between high unemployment rates, a quicksand political environment, the gig economy and the introduction of new disruptive technologies (and tariffs!) almost daily, it’s no surprise that recent […]